PayPal (NASDAQ:PYPL) Stock Price Up 1.6% – Should You Buy?

PayPal Holdings, Inc. (NASDAQ:PYPL) shares shot up 1.6% during mid-day trading on Wednesday . The stock traded as high as $88.33 and last traded at $88.25. 3,276,344 shares changed hands during trading, a decline of 75% from the average session volume of 12,964,972 shares. The stock had previously closed at $86.90.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and raised their price target for the company from $86.00 to $103.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. increased their target price on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PayPal has an average rating of “Moderate Buy” and an average target price of $88.42.

PayPal Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $88.36 billion, a P/E ratio of 21.04, a P/E/G ratio of 1.66 and a beta of 1.44. The firm’s 50 day simple moving average is $85.26 and its two-hundred day simple moving average is $73.76.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. As a group, analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

A number of institutional investors have recently modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd bought a new position in PayPal in the 3rd quarter worth about $26,000. SYSTM Wealth Solutions LLC lifted its stake in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in shares of PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after buying an additional 465 shares during the last quarter. Planning Capital Management Corp increased its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its holdings in PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.